JSE-listed private education provider, ADvTECH, says that its acquisition of Monash South Africa (MSA) has become unconditional following the fulfilment of all conditions precedent, including approval by the Competition Tribunal.
The transaction became effective from 1 April 2019 which will result in MSA now being incorporated into ADvTECH’s higher education division, The Independent Institute of Education, and will be branded IIE MSA.
This increases the tertiary student complement of ADvTECH to more than 43,000.
“We are delighted to be able to add MSA, which offers a world-class education environment, with a strong track record for student employability, outstanding pass rates and qualification completion times, to our existing portfolio of highly respected brands which includes Varsity College, Vega and Rosebank College,” said Roy Douglas, ADvTECH Group CEO.
“MSA’s reputation for academic excellence aligns with ADvTECH’s values and will support our growth strategy while further cementing our reputation and ability to deliver as South Africa’s leading private higher education/‘private university’ group,” Douglas said.
The IIE MSA campus, located on Johannesburg’s West Rand, has a capacity for 6,500 students, and boasts extensive education facilities which include laboratories, sports facilities and four student residences.
“In addition to a state-of-the-art campus, IIE MSA also brings to the ADvTECH portfolio a comprehensive suite of premium programmes, an extensive executive education and training portfolio and highly sought-after programmes such as its engineering and public health,” ADvTECH said.
“The approval of this acquisition together with the recent High Court judgment in favour of The Independent Institute of Education, confirming that registered and accredited qualifications from private institutions are on par with those of public universities, represents a substantial development for the private higher education sector in South Africa,” it said.